Author Question: Suppose Cournot duopolists firms face the same market demand curve, but have differing costs. At the ... (Read 58 times)

LCritchfi

  • Hero Member
  • *****
  • Posts: 519
Suppose Cournot duopolists firms face the same market demand curve, but have differing costs. At the Nash-Cournot equilibrium, the firm with the higher cost will
 
  A) have a lower price for its product than its competitor.
  B) have a smaller profit than its competitor.
  C) have a higher price for its product than its competitor.
  D) have a higher profit than its competitor.

Question 2

The labor market demand curve
 
  A) is the summation of the labor demand curve for each output market.
  B) is identical to the average firm labor demand curve.
  C) is the sum of the wages paid for each unit of labor of the individual firms labor demands.
  D) is always upward sloping for competitive labor markets.


nikmaaacs

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

B

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

For a complete list of videos, visit our video library